All those for publishing an answer sheet sheet

LorrinCFA

according to the institute and to global best ethics and practice, anyone who invests in something should be privy to the results of his investment and all information relating to his investments.

On that note given the fact that all of us candidates pay fees for the CFAI in order to get an opportunity to sit for the exam and aside from the money we also invest a considerable amount of effort into studying for this designation i think that we are also justified in being allowed & entitled to see every detail regarding the exam for which we sat, beginning with an answer sheet to be published including all questions and proposed correct answers along with their calculations for their proposed answers, in addition to the difficulty level assigned to each question and the exact criterion for passes and fails for the specific exam that we took.

Therefore with all candidate performance information kept secret and the CFAI being run as a self regulated entity this opens the door to conflicts of interest as well as independence and objectivity issues. Would the CFAI possibly sue itself for failing someone incorrectly, or would it take the risk of notifying that person and ruining its reputation?? Do you think anyone has ever not passed the CFA exam or even Passed through a scantron machine malfunction??

issues such as this make me wonder why there isn't a 3rd party quality control inspector in place for the CFA Institute who conducts a quality audit of their internal processes in grading peoples exams. As well as even if there was an audit done on a random sample basis and things checked out to be fine, would this mean that the probability of the unlikely case of someone getting an incorrect pass/fail grade has been eliminated?

So again with this in mind the only way we can have an audit done where its not a random sample being tested is when each and every candidate is privy to their exact performance on the test through it being disclosed along with an answer guide and a rating system that is applied to arrive at the pass/fail criterion.

19831985

I'll second all of that and add that I think it is a disgrace that the CFAI isn't a non-profit organisation - it makes a mockery of their stated goals.

Analyze_This

got that right... it took me a while to figure out that the vignette is not what it is. Even this year I messed up the morning exam as I kept on reading the stupid vignette thinking that it served some logical purpose. Once I realized it is really just a matter of independent multiple choice questions, I did well. I don't understand how with all the money they collect from exams and annual dues you pay in order to continue to have your charter, which you earned with your skill, money and time, they are unable to figure out a better way to administer this exam.

jarobi04

On testing the hypothesis of the exams significance in explaining the level knowledge of candidates taking it....... i fail to reject the hypothesis and conclude that the exam with the way it is currently constructed and timed does not do the job of testing knowledge of what an investment professional is supposed to know or any other advanced finance professional on that note, according to the curriculums learning objective statement objectives.

It is also worth noting that the level two exam is constructed as vignettes and cases and i don't know about the rest of you, but my personal understanding of the difference between a single multiple choice question and a case is that for a case you are supposed to read the entire thing to be able to answer each question on it... and NOT have the page and a half case broken down into six segments that are completely and obviously independent from each other so that all we do is read each paragraph or for instance look at each two liner with an exhibit and go look for the question on this part alone in the 6 multiple choice questions that follow.

like whats the point of having this test in the format of 10 cases in each session with 6 multiple choice question for each case??? you never need to read the whole case as a whole before you start answering questions on it.... and even the ethics questions are in the same way, the whole case theme doesn't serve any purpose